Want to know the biggest residential deal to go down in Fort Lauderdale so far this year? How about the biggest commercial sale? Check out the latest statistics on the Fort Lauderdale market after the jump.
On the residential side of the market, the first two months of 2016 compare favorably to the first two in 2015. So far this year, the waterfront estate at 1831 Southeast Ninth Street sold in February for $17.2 million, whereas during that period in 2015, the most expensive home sale was for $5.6 million.
On the commercial end, average asking rents increased slightly, from $12.64 per square foot in the first two months of 2015 to $15.80 so far in 2016. Commercial sales on per-square-foot basis also increased from $165.95 in 2015 to $168.33 in 2016. Meanwhile, the average commercial cap rate in Fort Lauderdale dipped from 8 percent for January and February of 2015 to 6.7 percent year-to-date in 2016.
The Real Deal analyzed data from CoStar Group and Redfin, comparing the first two months of 2015 to the same period this year. – Katherine Kallergis
Check out the graphic for more information:
Fort Lauderdale statistics (Credit: TRD Researcher Eda Kouch)